Recent Plan News

Texas Comptroller’s Office announces changes to the Texas College Savings Plan

Comptroller Glenn Hegar announced today the Texas College Savings Plan, the state’s direct-sold college savings plan, is lowering fees and enhancing its investment lineup. These changes were effective Dec. 13:The current Blended and Index Age-based Portfolios will be streamlined into a single set of Age-based Portfolios;The Age-based Option will be expanded from six to 10 Age-based Portfolios to provide a smoother investment glide path;The Static and Individual Fund Portfolios will be reorganized as Risk-based and Individual Asset Class Portfolios; andNew portfolios will be added within the Risk-based and Individual Asset Class Portfolios to offer more variety with the investment lineup.The Plan also is reducing the program management fee and state administrative fee and using investments with lower estimated underlying investment expenses, resulting in significantly lower estimated total plan fees.

ScholarShare 529 Reaches $13B in Assets

ScholarShare 529, California’s official college savings plan, announced today that the plan has achieved an extraordinary milestone, reaching $13 billion in combined assets under management. The accomplishment is due in part to the increasing number of California families choosing ScholarShare 529 and contributing more money than ever before, a figure which has already surpassed $1 billion in 2021.

Ohio’s 529 Plan, CollegeAdvantage has reduced program fees by a full basis point effective October 2021

Vanguard, one of Ohio Direct 529 Plan’s partners, reduced their fee by half a basis point from 1.5 bps to 1.0 bps (0.015% to 0.10%). In addition, Ascensus College Savings, the program record-keeper for the Ohio Direct 529 Plan, reduced their fee by a half a basis point from 10 bps to 9.5 bps (0.10% to 0.095%). Both the reduction in fees by Vanguard and Ascensus College Savings reduces the overall fees in Ohio’s 529 Plan by one full basis point.

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